If both imports and exports rose,
a. AD would decrease
b. AD would increase.
c. AD would decrease if exports rose more than imports.
d. AD would increase if exports rose more than imports.
d
Economics
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Which of the following is characteristic of a perfectly competitive market?
a. There is free entry into and exit from the market. b. Individual firms can exert a perceptible influence on the market price. c. The firms in the market produce differentiated products. d. All of these are true.
Economics
A simplified representation of the real world that is used to explain economic phenomena is a(n)
A) viewpoint. B) model. C) assumption. D) implication.
Economics